Lwiddis wrote:
$12,000 would make a heck of self insurance bank account.
OP didn't make that very clear, but I suspect the $12K was between paying out of pocket for three separate repairs and perhaps the cost of the "insurance" premium over the yrs so the reality may be the OP would have merely wasted what ever amount of money they spent on the warranty.. That's the money that they would have been able to set aside for future repairs.
I don't know what people expect, the aftermarket "warranty" or "insurance" coverage that supposedly reimburses you for non accident repairs business is pretty much all a scam. Many pay top dollar for the coverage but very few folks outside the owner of the warranty company ever see a dime out of it. The favor is heavily tipped towards the warranty or insurance company as they set the rules that you must clearly follow to the letter. Miss one step and they can deny any coverage. These warranties will not cover "neglect" on your part and anything that happens can be claimed to be neglected.
As someone else mentioned, you are further ahead to "self insure" by setting aside some funds on a regular basis for break downs rather on relying on some faceless remote warranty or insurance company. Everyone can self insure, put $100 into a savings account every month, that's $1200 per yr and in ten yrs that is $12,000 plus some interest.
You can start it with some "seed money", $1K or $2K up front and then $50 or $100 per month..
You can easily find $100 just by skipping eating out in a expensive restaurant once a month.
